Welspun Corp spurts up over 3%

In the opening bell trades, Welspun Corp did well though the initial euphoria seems to have died down now. The stock rose over 3% to Rs.140.50 but is now at Rs.138, up some 1%.

The initial bump up in the price was on account of the cheer a new order receipt brought. The company has announced that it has received a contract for supply of @ 33 KMT of Pipes for Oil & Gas project in to the America’s market.

With this addition, the company’s current order book stands at @ 1,643 KMTs valued at Rs.11,400 crore.